BOISE, Idaho, Sep 25, 2001 (BUSINESS WIRE) -- Micron Technology, Inc.
(NYSE:MU), today announced a net loss for the fourth quarter of fiscal 2001 of
$576 million, or $0.96 per diluted share, on $480 million of net sales. For the
fiscal year ended August 30, 2001, the Company had a net loss from continuing
operations of $521 million, or $0.88 per diluted share, on $3,936 million of net
sales. For fiscal year 2000, the Company had net income from continuing
operations of $1,548 million, or $2.63 per diluted share, on net sales of $6,362
million.
In the fourth quarter of fiscal 2001, the Company recorded an aggregate charge
of $191 million ($118 million, or $0.20 per diluted share, net of taxes) for the
write-down of its equity investment in Interland, Inc. (formerly Micron
Electronics, Inc.), and subsequent contribution of its Interland shares to the
Micron Technology Foundation. In addition, the loss for the fourth quarter
includes the effect of a write-down of work in process and finished goods
inventories of $466 million ($289 million, or $0.48 per diluted share, net of
taxes) to reduce the carrying value of inventories to their lower of cost or
market value. |
